Goosehead Insurance (NASDAQ:GSHD) Reaches New 1-Year High After Analyst Upgrade

by · The Cerbat Gem

Goosehead Insurance, Inc (NASDAQ:GSHD – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday after TD Cowen raised their price target on the stock from $94.00 to $130.00. TD Cowen currently has a hold rating on the stock. Goosehead Insurance traded as high as $124.40 and last traded at $124.40, with a volume of 47071 shares trading hands. The stock had previously closed at $120.43.

Several other brokerages also recently issued reports on GSHD. UBS Group raised their price target on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JMP Securities upped their price target on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 price objective (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Truist Financial increased their target price on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.90.

View Our Latest Research Report on GSHD

Insider Transactions at Goosehead Insurance

In related news, major shareholder Patrick Ryan Langston sold 4,814 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $90.26, for a total transaction of $434,511.64. Following the completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $451,300. This trade represents a 49.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark Evan Jones sold 8,977 shares of Goosehead Insurance stock in a transaction on Monday, August 26th. The shares were sold at an average price of $82.33, for a total value of $739,076.41. Following the completion of the transaction, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,248,000.83. This trade represents a 18.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,232 shares of company stock valued at $13,425,876 over the last three months. Company insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Goosehead Insurance by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock valued at $160,962,000 after buying an additional 46,861 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Goosehead Insurance by 30.4% in the second quarter. Daiwa Securities Group Inc. now owns 35,118 shares of the company’s stock valued at $2,017,000 after acquiring an additional 8,193 shares in the last quarter. Quarry LP grew its holdings in Goosehead Insurance by 2,810.7% during the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after acquiring an additional 787 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Goosehead Insurance in the 2nd quarter valued at about $408,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Goosehead Insurance by 31.4% during the first quarter. Janney Montgomery Scott LLC now owns 4,428 shares of the company’s stock valued at $295,000 after purchasing an additional 1,058 shares in the last quarter.

Goosehead Insurance Stock Up 2.3 %

The business’s fifty day moving average price is $99.74 and its two-hundred day moving average price is $80.22. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $4.57 billion, a P/E ratio of 167.27, a PEG ratio of 4.51 and a beta of 1.32.

Goosehead Insurance (NASDAQ:GSHD – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. Goosehead Insurance’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities analysts expect that Goosehead Insurance, Inc will post 0.84 earnings per share for the current fiscal year.

About Goosehead Insurance

(Get Free Report)

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.

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